By Liz White, ERJ staff
Trelleborg Group has completed its acquisition of Metzeler Automotive Hose Systems, a division of Metzeler Automotive Profile Systems SA. Metzeler Hose makes automotive hose systems for the supply of air and engine cooling.
Trelleborg says the acquisition consolidates its market presence in eastern Europe, contributes new customers and complements the Group's existing product portfolio within the hose systems segment.
Metzeler Automotive Hose Systems has annual sales of approximately SEK600 milion ($83.5 million), with some 850 employees. The head office is located in Mannheim, Germany, and the company has three production units, in Poland, the Czech Republic and Italy, and sales offices in the UK and France.
Metzeler AHS manufactures components and systems for engine cooling, vacuum- and air-supply applications. The product portfolio includes rubber and silicone hoses.
The purchase price amounts to SEK 275 milion ($38.3 million). Trelleborg expects the acquisitionto have a positive effect on earnings during 2004 and Metzeler will be consolidated in Trelleborg's earnings as of the first quarter of 2004.